The Lorain Port Authority can secure fixed-rate Tax Increment Financing, TIF, for qualifying public projects to provide local communities better financing terms. Qualifying public works include Land Acquisition, Parking, Lighting, Sewer, Streets, Water, and Utilities. There are many benefits to using a TIF to fund a project, such as part, or all, of the project can be funded without a tax increase. The project will receive more favorable financing term based on its projected tax revenue, and its long-term economic development support. TIF projects generally can start earlier with quick closing and interim financing. There are no sales taxes on hard construction costs.